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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (11974)	1/18/1999 5:37:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Govt To Speed Up Privatization Of Utilities Dow Jones Newswires BRASILIA -- The Brazilian government will sell all remaining federally held electric power generators to the private sector in 1999, the National Privatization Council, or CND, decided Monday. National Development Bank President Jose Pio Borges said at a briefing after the extraordinary meeting that President Fernando Henrique Cardoso instructed the CND to speed privatization of remaining government-owned electric energy and sanitation utilities. President Cardoso presided over Monday's CND meeting. Borges said that the privatization model for the power generators will be ready by Jan. 28, when the next meeting of the CND will be held. He added that the government plans to offer substantial amounts of capital in generating companies to the general public at auctions after the privatizations. "How much and how this can be done will have to be suggested by the companies themselves," Borges said. He said that the CND will present suggestions for the privatization of water utility companies at a special meeting in three weeks. Borges said that the government has maintained its target of 20 billion reals (BRR)($1=BRR1.59) in privatization revenues in 1999. -By William Vanvolsem; (5561) 244-3095